Horizon Minerals Ltd
Horizon Minerals Ltd (ASX:HRZ) formerly Intermin Resources, an exploration and development company focused on Australian resource projects, is listed on the Australian Securities Exchange.
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Horizon Minerals boosts balance sheet by $7 million after divesting gold royalties

Horizon Minerals Ltd (ASX:HRZ) has executed a binding royalty sale and purchase agreement with Vox Royalty Corp (CVE:VOX) (OTCMKTS:VOXCF) to divest its 100% interest in two royalties.
These royalties cover the Janet Ivy and Otto Bore gold projects in the Western Australian Goldfields.
The agreement will see Vox pay A$7 million in cash and shares with A$4 million in cash upon completion and A$3 million in cash or Vox shares at Vox's election upon Vox receiving cumulative payments of A$750,000 from the transaction royalties.
"Divestment strengthens balance sheet"
Proceeds will add to Horizon's existing cash reserves as it advances a consolidated feasibility study through to a development and financing decision this year.
Horizon managing director Jon Price said: "Horizon's core focus remains firmly set on developing a standalone gold business in the Kalgoorlie and Coolgardie regions.
"This divestment further strengthens our balance sheet as we progress the large-scale drilling program and advance the consolidated feasibility study through to a development decision and financing stage in the second half of 2021."


Other Horizon Minerals Ltd news
- Horizon Minerals reviews Nimbus project on back of strong silver and zinc prices
2020-08-25 - Horizon Minerals kicks-off largest ever drilling program of at least 70,000 metres at Goldfields tenements
2020-08-18 - Horizon Minerals receives high-grade results from Nanadie Well Copper-Gold Project
2020-05-20 - Horizon Minerals starts Boorara development with first gold expected in July
2020-05-12 - Horizon Minerals limits spending as Boorara moves toward gold production
2020-04-15